This page reflects THO options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 20, 2026 close
Max Pain — THO
Data as of market close May 20, 2026
Nearest listed expiration 2026-06-18 shows max pain at $85.00 (10.24 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$85.00
Nearest expiry
Expected Move
±$9.45
±12.6%
Days to Expiry
29
Calendar days
Total Call OI
2,030
Nearest expiry
Total Put OI
1,147
Nearest expiry
P/C OI Ratio
0.57
Put-heavy
Spot Price
$74.76
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-06-18
Expiration
Max Pain Strike
Last Updated
2026-04-17
$80.00
4/17/2026, 11:28:39 PM
2026-05-15
$80.00
5/15/2026, 11:37:11 PM
2026-06-18NextUpdated
$85.00
5/20/2026, 11:35:14 PM
2026-09-18
$100.00
5/20/2026, 11:35:14 PM
2026-10-16
$90.00
5/20/2026, 11:35:14 PM
2026-12-18
$75.00
5/20/2026, 11:35:14 PM
2027-01-15
$95.00
5/20/2026, 11:35:14 PM
Selected expiration: 2026-06-18 at max pain $85.00.
THO pain by strike for 2026-06-18 expiration
Strike
Call Pain
Put Pain
Total Pain
50
0
3066000
3066000
55
1000
2504000
2505000
60
2000
1945000
1947000
65
3000
1402000
1405000
70
4000
957500
961500
75
31500
612000
643500
80
82000
351000
433000
85
157500
168500
326000
90
556500
54500
611000
95
1123000
32500
1155500
100
1714500
22000
1736500
105
2336500
12000
2348500
110
2978000
7500
2985500
115
3619500
3000
3622500
120
4262500
2000
4264500
125
5138000
1000
5139000
130
6084000
0
6084000
135
7030000
0
7030000
140
7979500
0
7979500
145
8955000
0
8955000
How to Read Max Pain
Compare pin-risk and strike-pressure across expirations from the latest published close.
What max pain measures
Max pain is the strike where option holders would collectively lose the most at expiration, based on open interest across the listed chain.
How traders use it
It is most useful as a possible pinning zone, especially when spot is already trading near a crowded strike into expiration.
What can break it
Strong directional flows, news, or fast spot moves can overwhelm any pinning tendency, so max pain should support a thesis rather than drive it alone.
The closer you are to expiration, the more useful this becomes as context and the less useful it is as a standalone prediction.